The module is designed for students who have completed Year 1 and Year 2 of the Management Science BSc/MSci programme. In particular, it assumes that students have completed the modules in the Mathematics/Quantitative Thinking strand (MSIN103P, MSIN107P, MSIN203P), the modules in the Data Analytics strand (MSIN102P, MSIN204P, MSIN206P), as well as MSIN106P Behavioural Science, MSIN201P Strategy by Design and MSIN205P Design.
Marketing professionals have long used data to measure campaigns and make marketing decisions. But with the advent of new channels and devices, marketers now have access to an unparalleled amount of data. Marketers need a more systematic way of capturing and analysing data, unearthing insights and using those insights to improve business outcomes.
Marketing Science revolves around understanding complex market dynamics and using various tools to predict outcomes and recommend actions. Marketing Scientists exhibit broader collaboration across the business, greater impact on customer engagement and a more pervasive culture of data-driven decision-making.
The aims of the Marketing Science module are:
To provide students with an understanding of key ideas and concepts in marketing.
To expose students to the range of marketing problems that leading companies are addressing with scientific approaches and digital tools, and the results they are achieving.
To provide students with practical experience of working with the range and types of data, models, and tools used in marketing science.
Upon successful completion of the module, students will be able to:
- Assess marketing opportunities by analyzing customers, competitors, and their own company (the 3 C’s)
- Design effective marketing programs to capitalize upon these opportunities by selecting appropriate strategies for pricing, promotion, place, and product (the 4 P’s)
- Understand how companies are using scientific approaches and digital tools to address key marketing issues.
- Marketing Math
- Introduction to Marketing, 3Cs 4Ps
- 3 C’s, Situation Analysis
- 4 P’s: Product
- 4 P’s: Promotion
- 4 P’s: Price
- 4 P’s: Place
- Segmentation, Targeting, and Positioning
- Integrated Marketing
- Big Data
Examination 60%, Group Coursework 30% and Individual Coursework (2 x Data Analysis assignments) 10%
Current students should refer to Moodle for specific details of the current year’s assessment.